WHY DO I  NEED FOR DISABILITY INSURANCE BENEFITS?

Here are the latest disability trends that concern you:

Today we live harder, work harder and play harder than ever before. As a consequence, there has been a dramatic increase in disabling injuries and illnesses.

 In the past 25 years, the number of severely disabled people ages 17 to 44 has increased 400 percent. While the number of people with protection has also increased, most Americans still have a disability income protection gap.  This is alarming when you consider in a year's time, chances are only one in 1,200 of you will need your fire insurance—generally considered a necessity for homeowners—but one in eight (8) of you will be sick, injured or killed.   The risk of becoming disabled will continue to increase.

Aging a main factor

Because of advanced trauma and cancer care, more people today survive illnesses and injuries that were deadly 20 years ago. In 1930, the average U.S. life expectancy was 61; today, it is 76; and by the year 2050, it will be 82. Today, there are 3.6 million Americans over age 65; by 2040, there will be 13.8 million.

With Americans now living longer, age has and will continue to have a profound impact on disabilities. According to the National Association of Health Underwriters, there are 3.74 disabilities per 1,000 people ages 45 to 49. This increases nearly five times more with age, to 15.18 disabilities per 1,000 people ages 60 to 64.

In addition, the traditional retirement age is moving up, and more people are likely to work part-time after retirement, thus increasing the risk of a disability later in their life.

Changing workforce

More than 10.5 million people are starting their own businesses, consulting or working at home, according to the Bureau of Labor Statistics. And more women than ever are now working; many families today rely on two incomes. In the early 1900s, there were only 500,000 married women in the labor force. They represented just 4.5 percent of all married women. Today, there are about 39 million married women working outside the home (representing 60 percent of all married women), and 17 million of them have children under age six.

With more women working and families relying on two incomes, the need for disability protection has become greater, especially since women are twice as likely to suffer a disabling illness than men. And with more people working out of their homes and earning substantial incomes, the need for more flexible, individualized protection is on the rise.

Increase in workplace disabilities

Over the years, the causes of disabilities have changed in the workplace.  Today, disabilities due to psychiatric conditions, severe back pains, Carpal Tunnel Syndrome, muscle/tissue disorders and Chronic Fatigue Syndrome are increasing dramatically. Among the most common long-term disabilities (those lasting longer than three years) are circulatory and heart conditions, back disorders, psychiatric conditions, general sickness and subjective pain.

Common short-term disabilities (those lasting less than three years) include normal pregnancies as well as pregnancies with complications, injuries, muscular or skeletal problems, and psychiatric or substance abuse problems.